[Ord. of 9-21-2010(1)]
This chapter shall be known and may be cited as "the City of Belfast, Chapter
23, Property Assessed Clean Energy (PACE) Ordinance" (the "ordinance").
[Ord. of 9-21-2010(1)]
Except as specifically defined below, words and phrases used
in this chapter/ordinance shall have their customary meanings; as
used in this chapter, the following words and phrases shall have the
meanings indicated:
ENERGY SAVING IMPROVEMENT
"Energy saving improvement" means an improvement to qualifying
property that is new and permanently affixed to qualifying property
and that:
a.
Will result in increased energy efficiency and substantially
reduced energy use and:
(1)
Meets or exceeds applicable United States Environmental Protection
Agency and United States Department of Energy, Energy Star program
or similar energy efficiency standards established or approved by
the trust; or
(2)
Involves air sealing, insulating, and other energy efficiency
improvements of residential, commercial or industrial property in
a manner approved by the trust; or
b.
Involves a renewable energy installation or an electric thermal
storage system that meets or exceeds standards established or approved
by the trust.
PACE AGREEMENT
"PACE agreement" means an agreement between the owner of
qualifying property and the trust that authorizes the creation of
a PACE mortgage on qualifying property and that is approved in writing
by all owners of the qualifying property at the time of the agreement,
other than mortgage holders.
PACE ASSESSMENT
"PACE assessment" means an assessment made against qualifying
property to repay a PACE loan.
PACE DISTRICT
Means the area within which the municipality establishes
a PACE program hereunder, which is all that area within the municipality's
boundaries.
PACE LOAN
"PACE loan" means a loan, secured by a PACE mortgage, made
to the owner(s) of a qualifying property pursuant to a PACE program
to fund energy saving improvements.
PACE MORTGAGE
"PACE mortgage" means a mortgage securing a loan made pursuant
to a PACE program to fund energy saving improvements on qualifying
property.
PACE PROGRAM
"PACE program" means a program established under state statute
by the trust and a municipality under which property owners can finance
energy savings improvements on qualifying property.
QUALIFYING PROPERTY
"Qualifying property" means real property located in the
PACE district of the municipality.
RENEWABLE ENERGY INSTALLATION
"Renewable energy installation" means a fixture, product,
system, device or interacting group of devices installed behind the
meter at a qualifying property, or on contiguous property under common
ownership, that produces energy or heat from renewable sources, including,
but not limited to, photovoltaic systems, solar thermal systems, biomass
systems, landfill gas to energy systems, geothermal systems, wind
systems, wood pellet systems and any other systems eligible for funding
under federal Qualified Energy Conservation Bonds or federal Clean
Renewable Energy Bonds.
TRUST
The Efficiency Maine Trust established in 35-A M.R.S.A. § 10103
and/or its agent(s), if any.